International News

Bloomberg A draft proposal by federal regulators to roll back US automobile efficiency requirements contends that their preferred plan would reduce ‘societal costs’ by roughly half a trillion dollars through 2029, while increasing US fuel consumption by 500,000 barrels per day. The assertions are detailed in an undated draft of the National Highway Traffic Safety Administration and Environmental Protection Agency ...

Bloomberg Siemens AG is leaning towards building a 600 million euro flagship innovation center outside Germany, rather than in its historic stomping ground of Berlin, according to a person familiar with the matter. The engineering giant confirmed a report that it’s planning a complex called Siemens City, but a spokesman said the company hasn’t yet chosen a location. German news ...

Bloomberg Four years ago, Foxtons Group Plc was riding the crest of London’s housing wave as surging demand sent home values in the UK capital soaring. Since then, the estate agent’s share price has fallen by almost 90 percent as the city’s residents and landlords hold off on buying homes, while overseas demand remains damped by a series of tax ...

Bloomberg Sweden’s economic growth unexpectedly accelerated in the second quarter as consumer spending and exports picked up. Gross domestic product advanced 1.0 percent in the period, accelerating from a revised 0.8 percent in the first three months of 2018 and beating the 0.5 percent estimate in a Bloomberg survey of economists. GDP grew 3.3 percent from a year earlier. The ...

Bloomberg Nokia Oyj plunged after saying customers aren’t quite ready to increase spending on faster networks and are demanding price cuts. In the second quarter, Nokia’s operating profit fell 42 percent to 334 million euros ($391 million), short of the 374.5 million-euro average of analysts’ estimates compiled by Bloomberg. Suri said he expects market conditions to improve further in the ...

Bloomberg China’s expressed regret over Qualcomm Inc.’s decision to scrap a $44 billion takeover of NXP Semiconductors NV, an apparent attempt to avoid blame after regulators failed to rule on what would have been the largest chip acquisition in history. The takeover fell apart as tensions between China and the US escalated and local regulators held off on clearing the ...

Bloomberg ARM Holdings Plc, the British computer-chip designer owned by SoftBank Group Corp., has agreed to buy US-based data analytics firm Treasure Data Inc., people familiar with the matter said. Treasure Data may fetch about $600 million in the sale, the people said, asking not to be identified because the deal isn’t yet public. A spokesman for ARM declined to ...

Bloomberg Starbucks Corp., facing a rare sales decline in China, is betting a rapid roll out of delivery service will get the business back on track. With the company expecting China to eventually surpass the US as its biggest market, Starbucks says deliveries will help it will fend off competitors who are already offering the service, coupled with deep discounts. ...

Bloomberg The chief executive of Samsung Securities Co. resigned after the company was punished by South Korea’s financial regulator because an employee’s error sparked a $105 billion “ghost stock” blunder. Koo Sung-hoon’s resignation was disclosed in a regulatory filing on July 27, a day after the Financial Services Commission ordered the firm to suspend Koo for three months. The firm ...

Bloomberg As foreign funds continue to dump Indonesian stocks and bonds, President Joko Widodo is chasing dollars from tourism and exports to help contain a widening current-account deficit. Widodo, known as Jokowi, ordered ministers, officials and central bankers to step up efforts to lure more foreign visitors into the pristine sand beaches dotting hundreds of islands across the archipelago. He ...